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Este documento analiza el proceso inflacionario en el Perú durante el período 1981-1988. Los resultados de este trabajo muestran la necesidad de profundizar el estudio de los distintos mecanismos que lo impulsan. Asimismo, se evalúa la importancia de las presiones de costos y de demanda en...
Persistent link: https://www.econbiz.de/10004995075
consumer preferences and instead uses asset prices. The method is based on the marginal cost of consumption fluctuations, the …
Persistent link: https://www.econbiz.de/10005664268
We test for the pricing of exchange rate and foreign inflation risk in equities. Our tests are motivated by the … Adler and Dumas (1983). Both exchange rate and foreign inflation risk factors can explain part of the within-country cross … bias, at least in US equity portfolios, cannot be the result of US investors' efforts to hedge their domestic inflation. …
Persistent link: https://www.econbiz.de/10005478440
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The recent debate over monetary policy strategies concludes that monetary targeting in practice lead to very similar patterns of central bank behaviour. This raises the question why central banks insist on the strategies they use. In this paper, we develop an answer from political economy. After...
Persistent link: https://www.econbiz.de/10005479280
promptly identifying turning points in inflation. The focus of this paper is the so-called "cost-of-living" index, the most … used measure of Italian inflation. Our aim is to identify and test a model of its seasonal component, which is important in …
Persistent link: https://www.econbiz.de/10005486712
This paper develops extensive new data on the legal independence of central banks in 26 former socialist economies (FSE). This data is constructed using the codification system for measuring legal independence developed in Cukierman, Webb and Neyapti (1992) and in chapter 19 of Cukierman (1992)....
Persistent link: https://www.econbiz.de/10005489271
This paper presents an empirical assessment of the performance of EMEs that have adopted inflation targets to conduct …
Persistent link: https://www.econbiz.de/10005433084
relative prices, the authors find that it may take about 10–25 years for new EU countries to converge to that of the least …
Persistent link: https://www.econbiz.de/10005406477